Zacks Investment Management Sells 1,366 Shares of Ingersoll Rand Inc. (NYSE:IR)

Zacks Investment Management lessened its holdings in Ingersoll Rand Inc. (NYSE:IR) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,728 shares of the industrial products company’s stock after selling 1,366 shares during the period. Zacks Investment Management’s holdings in Ingersoll Rand were worth $5,470,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IR. Ridgewood Investments LLC acquired a new stake in shares of Ingersoll Rand in the second quarter worth about $25,000. Ashton Thomas Securities LLC bought a new position in shares of Ingersoll Rand in the 3rd quarter valued at approximately $34,000. UMB Bank n.a. lifted its holdings in Ingersoll Rand by 196.8% in the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 309 shares during the last quarter. Eastern Bank bought a new stake in Ingersoll Rand during the third quarter worth approximately $42,000. Finally, Rothschild Investment LLC acquired a new position in Ingersoll Rand during the second quarter valued at approximately $43,000. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Trading Down 0.7 %

Shares of Ingersoll Rand stock opened at $102.28 on Friday. Ingersoll Rand Inc. has a 52-week low of $71.54 and a 52-week high of $106.03. The firm has a market capitalization of $41.22 billion, a PE ratio of 49.89, a price-to-earnings-growth ratio of 3.95 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The company’s fifty day moving average price is $100.86 and its two-hundred day moving average price is $95.52.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date was Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

Insiders Place Their Bets

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the sale, the chief accounting officer now directly owns 11,910 shares in the company, valued at $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on IR shares. Morgan Stanley started coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective for the company. Robert W. Baird decreased their price target on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Stifel Nicolaus lowered Ingersoll Rand from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $112.00 to $107.00 in a research note on Monday, November 18th. Barclays increased their target price on Ingersoll Rand from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Evercore ISI dropped their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus target price of $105.08.

Ingersoll Rand Profile

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.